Pengrowth Energy Corporation (PGH) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Pengrowth Energy Corporation (NYSE:PGH) (TSE:PGF) from a sell rating to a hold rating in a research report sent to investors on Friday.
According to Zacks, “Pengrowth Energy Trust is a Canadian energy trust with crude oil and natural gas properties in the Western Canadian Sedimentary Basin and offshore the East Coast of Canada. “
A number of other equities analysts have also weighed in on PGH. Canaccord Genuity lowered shares of Pengrowth Energy Corporation from a speculative buy rating to a hold rating in a report on Tuesday, July 11th. Raymond James Financial, Inc. lowered shares of Pengrowth Energy Corporation from a market perform rating to an underperform rating in a report on Wednesday, July 5th. Natixis lowered shares of Pengrowth Energy Corporation from a buy rating to a neutral rating in a report on Thursday, June 22nd. Finally, ValuEngine lowered shares of Pengrowth Energy Corporation from a sell rating to a strong sell rating in a report on Wednesday, August 16th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $2.06.
Pengrowth Energy Corporation (NYSE:PGH) opened at 0.9427 on Friday. The stock has a 50 day moving average price of $0.63 and a 200 day moving average price of $0.84. Pengrowth Energy Corporation has a 12-month low of $0.54 and a 12-month high of $1.77. The company’s market capitalization is $520.60 million.
A number of large investors have recently bought and sold shares of PGH. Cetera Investment Advisers bought a new stake in Pengrowth Energy Corporation in the 2nd quarter worth approximately $1,906,000. Letko Brosseau & Associates Inc. grew its position in Pengrowth Energy Corporation by 1.6% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 42,924,106 shares of the oil and gas company’s stock worth $33,713,000 after purchasing an additional 678,485 shares during the period. Vanguard Group Inc. grew its position in Pengrowth Energy Corporation by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 10,481,695 shares of the oil and gas company’s stock worth $10,481,000 after purchasing an additional 617,564 shares during the period. Acadian Asset Management LLC grew its position in Pengrowth Energy Corporation by 30.2% in the 2nd quarter. Acadian Asset Management LLC now owns 730,500 shares of the oil and gas company’s stock worth $574,000 after purchasing an additional 169,400 shares during the period. Finally, Grace & White Inc. NY grew its position in Pengrowth Energy Corporation by 5.1% in the 2nd quarter. Grace & White Inc. NY now owns 3,176,826 shares of the oil and gas company’s stock worth $2,511,000 after purchasing an additional 155,458 shares during the period. 16.72% of the stock is owned by institutional investors and hedge funds.
Pengrowth Energy Corporation Company Profile
Pengrowth Energy Corporation is engaged in the development, production and acquisition of, and the exploration for, oil and natural gas reserves in the provinces of Alberta, British Columbia, Saskatchewan and Nova Scotia. The Lindbergh thermal property is located approximately 420 kilometers north east of Calgary, Alberta and 50 kilometers south of Bonnyville, Alberta.
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